Page 11 - Banking System

Punjab & Sind Bank Q4 net profit more than doubles to Rs 346 crore

Punjab & Sind Bank on Thursday reported an over two-fold jump in net profit at Rs 346 crore for the quarter ended March 2022, helped by a decline in bad loans. The state-owned lender had posted a net profit of Rs 160.79 crore in the same quarter of the preceding fiscal year. Total income during the quarter increased to Rs 2,007.90 crore as against Rs 1,940.62 crore in Q4 FY21, the bank said in a statement. Gross bad loans or non performing assets (NPAs) of the bank came down to 12.17 per cent of gross advances as of March 31, 2022, from 13.76 per cent by end of March 2021. In value terms, gross NPAs declined to Rs 8,565 crore by the end of FY22 as against Rs 9,334 crore a year ago. Net NPAs almost halved to 2.74 per cent (Rs 1,742.27 crore) from 4.04 per cent (Rs 2,461.95 crore) a year ago. Bank's provisions for bad loans fell down significantly to Rs 866 crore in the quarter from Rs 1,993 crore in the year-ago period. Punjab & Sind Bank's MD and CEO S Krishnan said the bank ..

Banking system stable, says Sri Lanka as $1.4-bn bonds near maturity date

Sri Lanka faces an economic crisis as it struggles to pay for essential imports of food and fuel

Economic Survey: Banks took Covid shock well but some impact is yet to come

According to the survey, the banking system is well capitalised and the overhang of NPAs seem to have structurally declined even allowing for some lagged impact of the pandemic

Economic Survey 2021-22: Only 51% deposits insured despite hike in cover

However, the figure is higher than the international benchmark of 20-30%

Rs 50,000 crore of NPAs may be transferred to NARCL in FY22

Overall, 38 accounts worth Rs 83,000 crore identified: SBI chairman

Bank credit grows 8.01% to Rs 115 trn; deposits 9.28% to Rs 159 trn

Bank credit grew 8.01 per cent to Rs 115 lakh crore and deposits rose 9.28 per cent to Rs 159.83 lakh crore in the fortnight ended January 14, according to RBI data. In the fortnight ended January 15, 2021, bank credit stood at Rs 106.43 lakh crore and deposits at Rs 146.25 lakh crore, as per the RBI's Scheduled Banks' Statement of Position in India as on January 14, 2022, released on Friday. In the previous fortnight ended December 31, 2021, advances rose 9.16 per cent and deposits increased 10.28 per cent. In FY2020-21, bank credit increased 5.56 per cent and deposits grew 11.4 per cent.

Reserve Bank of India conducts variable repo rate auction of Rs 75,000 cr

The central bank offered Rs 75,000 crore of liquidity to the banking system against which banks bid for up to Rs 1.38 trillion

Spike in Covid cases may impact banking system's restructured book: Icra

Demand for recast may also go up for loans previously restructured; RBI warns of drop in bank's asset quality but reassures that they are strong enough to withstand huge shocks

Credit card spend crosses Rs 1 trillion first time in a month: RBI

Among major credit card players, ICICI Bank has been the most aggressive

DBS says banking services back to normal after 2-day outage, systems secure

The bank's services, including its payment app, were disrupted on Tuesday and Wednesday.

Rates to remain benign, corp credit revival likely in 4-6 months: SBI chief

In a Q&A, the lender's chairman Dinesh Khara says the banking system awaits a restructuring proposal from Vodafone-Idea

Utkarsh Small Finance Bank reports Rs 38 cr profit for Apr-Sept FY22

The bank on Monday reported nearly 52 per cent decline in net profit

RBI eases current account opening rules for exposure below Rs 5 cr

Rules changed after feedback from the Indian Banks' Association and other stakeholders, says the regulator

Traders, economists see early taper warning signs to markets from RBI

The central bank is increasingly shifting its forex intervention to the forwards market to keep from injecting rupee liquidity, according to analysts.

Evergrande crisis: China injects liquidity, adds $18.6 bn to banking system

The benchmark CSI 300 Index fell as much as 1.9 per cent Wednesday

New vistas for Indian banks

As low credit offtake dents earning, Indian banks are exploring fresh avenues to lend. This is the only way to avoid mispricing of risks

Heavy retail rush for 4 IPOs puts banking system under pressure

According to industry players, the many banks found it difficult to process the record 10 mn retail applications garnered, leading to higher failure rate, delayed OTP messages

Banker behind report alleging HSBC racism resigns over lack of support

By Lawrence White

Haryana formulates policy to create land banks for govt dept, corporations

The Haryana government has provided an option to them by formulating a policy to create land banks for government departments, boards and corporations

Currency creation

RBI should be careful in launching a digital currency